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Faraday Copper Reports 2022 Financial Results
VANCOUVER, BC / ACCESSWIRE / March 15, 2023 / Faraday Copper Corp. (" Faraday " or the " Company...
About this update from Faraday Copper Corp
[{"type":"text","content":"Faraday Copper Reports 2022 Financial ResultsVANCOUVER, BC / ACCESSWIRE / March 15, 2023 / Faraday Copper Corp. (\"Faraday\" or the \"Company\") (TSX:FDY) announces its financial results for the year ended December 31, 2022.HighlightsAcquired a ranch for US$10 million on March 6, 2023, consisting of approximately 6,000 deeded acres (private land) within 32,000 acres of grazing leases as part of a land consolidation strategy around the Copper Creek Project.Completed a bought deal financing on February 14, 2023, for a total of 49,999,700 common shares sold at a price of $0.80 per common share for aggregate gross proceeds to the Company of $39,999,760.Announced results for the Copper Creek Project drill programs on March 14, 2023, February 23, 2023, January 31, 2023, January 17, 2023, October 17, 2022, and September 7, 2022.Appointed Arndt Brettschneider to the Board of Directors on November 9, 2022.Graduated to the Toronto Stock Exchange (\"TSX\") on November 3, 2022.Commenced the Phase II 10,000-meter drill program on October 30, 2022.Released an updated Mineral Resource Estimate (\"MRE\") for the Copper Creek Project on July 6, 2022.Released the Copper Creek project geological model on May 12, 2022.Closed non-brokered equity financing of $20 million on May 5, 2022, for a total of 25,000,000 common shares sold at a price of $0.80 per common share.Completed rebranding of the Company to Faraday Copper and new directors elected to the Board of Directors on April 19, 2022.At Copper Creek, continued to advance the project towards delivery of a Preliminary Economic Assessment (\"PEA\") in Q2 2023, including the completion of Phase I 6,000-meter drill program, geotechnical and metallurgical studies, baseline environmental data collection, stakeholder mapping, and a generative exploration study to provide a pipeline of future targets.At Contact Copper, a strategic review of the project was completed together with field mapping and soil sampling, historic data review, relogging and reinterpretation of over 50 kilometers of historical core, and an airborne geophysical survey. The Company has currently prioritized advancement of the Copper Creek Project.Upcoming MilestonesQ2 2023 - Updated MRE and PEA for Copper CreekQ4 2023 - Initiate Phase III drill program at Copper CreekSelected Financial Results In Canadian dollarsDecember 31, 2022Dece...